Yesterday Putin’s decision to withdraw the Russian troops from Crimean was the key market mover.
Even in yesterday's post we clearly mentioned that the problem will be resolved soon. The market rallied sharply just after Putin’s assurance that Russia do not want to annex the Crimean. Gold lost its sheen and was trading around $1335 but any level below $1315 would help the bears to gain their reentry. The technical bull market is intact in both gold and Indian equity. The Nifty may rally beyond the technical resistance point of 6350 which would help the bulls to take the Nifty to new historical heights. We will keep watching the point closely but for now the bulls are gathering the strength to go past 6350!